Gold and What Moves it.
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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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Jesse's Café Américain: For Capitalism to Survive, Crime Must Not Pay

Jesse's Café Américain: For Capitalism to Survive, Crime Must Not Pay | Gold and What Moves it. | Scoop.it

Good post I agree with. Here's a snippet:

 

"If the people allow it, the crony capitalists will destroy the capitalist economy and the democratic republic that sustains it. They will destroy it because they hate it.

 

"They hate the risk and the narrow profits of honest competition and productive work in a free and open society, and so they create monopolies, cartels, private privilege, and fraud. They also hate equality, and the freedom that threatens to give other people the ability to curtail their insatiable lust for power..."

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John Mauldin - Europe is Destroying Their Currency

John Mauldin - Europe is Destroying Their Currency | Gold and What Moves it. | Scoop.it

John Maudlin, President of Millennium Wave Securities tells King World News:

 

"We don’t know how truly bad the banking system is. If they clog the banking system up, the wheels really do come off. As a culture we are in the negative, very unpleasant situation of having to bail out a bank that we really don’t like, and we really don’t want to do that. But if we don’t, the wheels come off.

 

"European banks are at least two and a half to three and a half times worse than US banks. Think about the US, as bad as it was in 2008, Europe is still that bad and in many cases worse. When they stop printing money, when they stop doing their version of TARP’s, which are called LTRO’s, it’s a disaster. It looks like Greece...."

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Jim Sinclair - Expect Another $17 Trillion of QE & War in Gold

Jim Sinclair - Expect Another $17 Trillion of QE & War in Gold | Gold and What Moves it. | Scoop.it

Here's a snippet from what Jim Sinclair tells King World News:

 

"Once you start quantitative easing, such as we have, $17 trillion, how in the world do you pull back from it? How do you stop without having everything collapse behind you? Truth be known, Bernanke didn’t have a choice. If Bernanke did not do QE, this place would look like the day after (the movie) ‘Mad Max.’

 

"I don’t support QE as being right, but I do understand its necessity. QE to infinity. If we’ve done over $17 trillion already, do you think we won’t do another $17 trillion? Of course we will. Denying it all the way, until the day. And when the day comes, QE will follow.”

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Families now spend more on transportation than food

Families now spend more on transportation than food | Gold and What Moves it. | Scoop.it

from Consumer Reports:

 

"The average American family now spends more than $7,600 annually on transportation, according to a recent government study. To put that amount in perspective, it's more than what's spent on food and over twice as much as on health care. The reason cited by the Treasury Department report is due to the increasing cost of gasoline and, consequently, traveling by car."

 

That just doesn't seem like a good thing to me.

 

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The War at the End of the Dollar | Ron Hera | Safehaven.com

The War at the End of the Dollar | Ron Hera | Safehaven.com | Gold and What Moves it. | Scoop.it
The history of the U.S. dollar is closely linked to U.S. involvement in a series of wars. The Bretton Woods Accord and the resulting world reserve currency status of the U.S. dollar were both byproducts of World War II ...

 

"The price of gold had begun to move up after having made a historic low in June of 2001 and, in 2006, the price of crude oil began to rise at an accelerating rate revealing a fundamental flaw of de-coupling interest rates from prices. The flaw was that the Federal Reserve had absolutely no control over the flow of increased liquidity resulting from its policies. The "committee to save the world" was flooding the world with cheap U.S. dollars. Increased liquidity linked to low interest rates was fueling unprecedented levels of financial speculation and increasing the risk and magnitude of asset price bubbles, such as the dot-com bubble and the real estate bubble. To make matters worse, excessive monetary expansion was weakening confidence in the U.S. dollar..."

 

Very interesting read.

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Jesse's Café Américain: Gold Daily and Silver Weekly Charts

Jesse's Café Américain: Gold Daily and Silver Weekly Charts | Gold and What Moves it. | Scoop.it

Great line from Jesse: "There are far too many people in the financial sector collecting the counterproductive entitlements of fraud."

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If gold isnt money, why did Vietnam just outlaw using it as such?

If gold isnt money, why did Vietnam just outlaw using it as such? | Gold and What Moves it. | Scoop.it
Restrictions on Bullion-Related Businesses
By P. Thao and P.

 

By P. Thao and P. Trung
Saigon Giai Phong
(Liberation)
Ho Chi Minh City, Vietnam
Thursday, April 5, 2012

http://www.saigon-gpdaily.com.vn/Law/2012/4/100611/

 

"As per a decree issued by the Prime Minister’s
office on April 3, gold has been banned as a medium for exchange, along with seven bullion-related activities that will take effect from May 25.

 

"The decree prohibits use of gold as a medium of
exchange; manufacturing gold jewellery without a licence from the central bank; trading gold without a licence; and conducting any other gold-related businesses without the approval of the prime minister and the central bank.

 

"In addition, licensed gold enterprises must satisfy
requirements such as having registered capital of 100 billion Vietnamese dong; having operated in gold trading for two years; paying tax above VND500 million; and having at least a branch in three central provinces and cities...." click through for the rest. The obvious answer is that gold is money that central banks can't control without such laws.

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El-Erian Breaches The Final Frontier: What Happens If Central Banks Fail? | ZeroHedge

El-Erian Breaches The Final Frontier: What Happens If Central Banks Fail? | ZeroHedge | Gold and What Moves it. | Scoop.it

"In the last three plus years, central banks have had little choice but to do the unsustainable in order to sustain the unsustainable until others do the sustainable to restore sustainability!" is how PIMCO's El-Erian introduces the game-theoretic catastrophe that is potentially occurring around us. In a lecture to the St.Louis Fed, the moustachioed maestro of monetary munificence states "let me say right here that the analysis will suggest that central banks can no longer – indeed, should no longer – carry the bulk of the policy burden" and "it is a recognition of the declining effectiveness of central banks’ tools in countering deleveraging forces amid impediments to growth that dominate the outlook. It is also about the growing risk of collateral damage and unintended circumstances." It appears that we have reached the legitimate point of – and the need for – much greater debate on whether the benefits of such unusual central bank activism sufficiently justify the costs and risks." Long piece that worth checking out.

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Sterilized QE Now On The Table? « Jim Sinclair's Mineset

From the desk of Jim Sinclair:

 

"My Dear Extended Family,

 

"The stock market takes a one day multi-hundred point drop and we hear a new round of sterilized QE is on the table from a Fed governor.


"What kind of fools do they take us to be?

 

"QE sterilized is a world class oxymoron similar to Jumbo Shrimp and the Great War.

 

"Consider what will happen here and in Euroland as all of this foolishness hits the fan. The answer is good old debt monetization.

 

"QE to infinity is as sure as death and taxes.

 

"Respectfully,
Jim"

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Big Oops: "The Aggregate Shortfall Of Required Stable Funding Is €2.78 Trillion" | ZeroHedge

From Tyler Durden at ZeroHedge:

 

"For today's dose of sobering cold water we go to the Bank of International Settlements, best known for being the FX bid (and gold offer) of last resort, whose Quantitative impact study results published by the Basel Committee has some very bad news for long-term bank viability: "The Committee also assessed the estimated impact of the liquidity standards. Assuming banks were to make no changes to their liquidity risk profile or funding structure, as of June 2011, the weighted average Liquidity Coverage Ratio (LCR) for Group 1 banks would have been 90% while the weighted average LCR for Group 2 banks was 83%. The aggregate LCR shortfall is €1.76 trillion which represents approximately 3% of the €58.5 trillion total assets of the aggregate sample. The weighted average Net Stable Funding Ratio (NSFR) is 94% for both Group 1 and Group 2 banks. The aggregate shortfall of required stable funding is €2.78 trillion." You read that right: as of June 30, banks lacked €1.76 trillion in liquid assets, and needed €2.78 trillion to meet stable funding rules. And then Europe imploded." click over for the full detailed report.

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WTO Warns Global Trade To Shrink In 2012

WTO Warns Global Trade To Shrink In 2012 | Gold and What Moves it. | Scoop.it

"World trade growth is expected to slow for a second year in 2012 and "severe" downside risks -- including a steeper-than-expected downturn in Europe, rapidly rising oil prices and geopolitical risks -- could push it even further below the 20-year average of 5.4 percent, the World Trade Organization forecast Thursday.

 

"Trade growth slowed to 5 percent in 2011 from 13.8 percent in 2010, missing a forecast for 2011 of 5.8 percent issued in September. While trade growth is expected to slightly rebound to 5.3 percent in 2013, WTO Director-General Pascal Lamy said in a statement, "We are not out of the woods."

 

"More than three years have passed since the trade collapse of 2008-09, but the world economy and trade remain fragile," Lamy noted. "The further slowing of trade expected in 2012 shows that the downside risks remain high."

 

"The main threats to trade growth in 2012 include the euro sovereign debt crisis in Europe and higher commodity prices..."

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Will Student Loan Debt Be A Threat To U.S. Economy?

Will Student Loan Debt Be A Threat To U.S. Economy? | Gold and What Moves it. | Scoop.it
Student loan debt is now larger than credit card and auto loan debt, soaring above the $1 trillion mark.

 

"First there was the tech bubble, when Internet-related companies that were losing money were priced as if they had a cure for cancer. Then came the housing bubble, where values of homes were sliced in half after unrealistic run-ups. And just a few years ago, the subprime debt situation exploded. Can the next great bubble be the loans that helped many of us pay for college?"

 

{Well, duh! Yes. We tell all these kids to go get a degree so that they can get a job. But what happens when there is no jobs for those kids to get so that they can pay back those loans? You get kids asking for others to pay their debt. It's a toxic bubble}

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Adrienne's curator insight, May 1, 2013 1:00 PM

It's interesting to finally look and understand how much college costs and how it's really going to impact the future of america.

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Richard Russell - Crime, Chaos, Collapse & Skyrocketing Gold

Richard Russell - Crime, Chaos, Collapse & Skyrocketing Gold | Gold and What Moves it. | Scoop.it

With continued turmoil in global markets, the Godfather of newsletter writers, Richard Russell, issued some ominous warnings and gave some strong advice to investors in his latest commentary: “Save some cash, load up with gold and silver, and be patient. Get ready for a crime wave -- a large segment of the population will do ‘whatever it has to’ in order to obtain food. Hungry men and women can be desperate and lawless.”

 

Click over for the rest of this interview. Russell is not painting a pretty picture. Very Dooms Day-ish.

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Awkward Family Photos are Internet Hit

Awkward Family Photos are Internet Hit | Gold and What Moves it. | Scoop.it
Images uploaded on website Awkward Family Photos show special moments in all their awkward glory.

 

If the CPI data today didn't do it for you than this should be good for a laugh today.

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Gold To Repeat April, May And Q2 / Q3 2011 Gains In 2012? | ZeroHedge

Gold To Repeat April, May And Q2 / Q3 2011 Gains In 2012? | ZeroHedge | Gold and What Moves it. | Scoop.it

"In recent years, April and May have been positive months for gold in terms of returns (see table above).

 

"April has returned 1.4% per annum in the course of the current bull market since 2000.

 

"May has returned 1.75% per annum in the course of the current bull market since 2000.

 

"Interestingly, the last month of Q1 and Q2, March and June, have been negative in terms of returns.

 

"March in particular has seen the poorest returns for any month in the last 11 years with average falls of 0.6%.

 

"Therefore..."

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Auguries—Doubling Down | Resource Clips

Auguries—Doubling Down | Resource Clips | Gold and What Moves it. | Scoop.it

by Kevin Michael Grace:

 

Gold was up (at press time) $44.90 (+2.8%) for the week to $1,676.60, and silver was up $0.68 (+2.1%) to $32.36. Fox Business attributed the gains to “Bill Dudley, the president of the New York Fed, signal[ing] that he is most likely in favour of providing additional [quantitative] easing as he gave a negative read on the economy.”

 

"According to Dudley, “It is still too soon to conclude that we are out of the woods, as underlined by the March labour market release. To begin with, the economic data looked brighter at this point in 2010 and again in 2011, only to fade later in those years.”

 

"Dudley explains why this column persists in putting inverted commas around the word recovery. As he noted, there was a false dawn two years ago and again last year. Meanwhile, governments continue to create oceans of liquidity and debt levels continue to soar, even as the US unemployment rate falls only because millions of Americans continue to give up on the idea of ever finding work.

 

"And too much liquidity is never enough. Europe has already blown through one trillion Euros, even as Spain and Italy slouch toward disaster, and the Continental banking system comes ever closer to insolvency..."

 

Click over for the rest as he looks at the past week's happenings. Hat tip to Peter Grandich at http://www.grandich.com/2012/04/things-223/ ;

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Useless Gold Overtakes Platinum | Adrian Ash | Safehaven.com

Useless Gold Overtakes Platinum | Adrian Ash | Safehaven.com | Gold and What Moves it. | Scoop.it
It's more than "interesting" that platinum prices are lagging gold... Gold has risen nicely since the meltdown following Lehmans' collapse, with the gold price in Dollars rising 130%.

 

Good read.

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The Golden Truth: Subprime Bubble Being Reinflated

The Golden Truth: Subprime Bubble Being Reinflated | Gold and What Moves it. | Scoop.it

From Dave in Denver:

 

"Gold has now corrected and consolidated into a seriously bullish technical formation. Given that the fundamental backdrop - all of the factors constantly discussed on this blog - is significantly stronger than at the end of the last two nasty corrections, per the red circles above, the next move up in the metals/miners could be breathtaking.

 

"Finally, for some icing on the cake, take a look at this article from Marketwatch on the Hulbert Gold Newsletter Sentiment Index: LINK The index reading now is -15. Historically, as Hulbert points out, extreme negative indicators for this index have signalled a big move higher in gold...."

 

Click over for the rest of the analsys and chart.

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24 Outrageous Facts About Taxes In The United States That Will Blow Your Mind

24 Outrageous Facts About Taxes In The United States That Will Blow Your Mind | Gold and What Moves it. | Scoop.it

"The following are 24 outrageous facts about taxes in the United States that will blow your mind....

 

"1 - The U.S. tax code is now 3.8 million words long. If you took all of William Shakespeare's works and collected them together, the entire collection would only be about 900,000 words long....

 

"...3 - 75 years ago, the instructions for Form 1040 were two pages long. Today, they are 189 pages long...

 

"...5 - According to the National Taxpayers Union, the IRS currently has 1,999 different publications, forms, and instruction sheets that you can download from the IRS website.

 

"6 - Our tax system has become so complicated that it is almost impossible to file your taxes correctly. For example, back in 1998 Money Magazine had 46 different tax professionals complete a tax return for a hypothetical household. All 46 of them came up with a different result..."

 

Click over for the full list.

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GIVING CENTER's curator insight, September 11, 2014 3:31 PM

Receive a tax break by donating to charity.  http://www.worksoflife.org/  accepts collectibles, real estate, all different vehicles, even aircraft.  Taking advantage of tax deductible donations for a worthy cause benefits both you and the needy.   http://www.worksoflife.org/

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oftwominds-Charles Hugh Smith: Is 2012 a Reprise of 2008?

oftwominds-Charles Hugh Smith: Is 2012 a Reprise of 2008? | Gold and What Moves it. | Scoop.it

A snip from Charles Hugh Smith's piece:

 

"Central banks and states responded by doing more of what had already failed spectacularly. In the ensuing years 2009-2012, they increased money supply and liquidity and lowered interest rates to zero or near-zero. And sovereign states borrowed vast sums to squander on “stimulus spending.” This “doing more of what has failed spectacularly” earned the apt moniker of “extend and pretend.”

 

"Nothing was actually fixed, but we were encouraged to believe it had been fixed with a flurry of absurdly complex “reforms” that only increased the power of the central states and banks without actually addressing the underlying causes of the meltdown: extremes of leveraged debt, extreme concentrations of financial wealth that then bought political power, shadow banking and opaque markets for hundreds of trillions of dollars in notional derivatives, systemic fraud and embezzlement, phony valuations assigned to assets and liabilities, and various schemes to misprice risk, among others..."

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South Africa`s mine production numbers lowest in 50 years

South Africa`s mine production numbers lowest in 50 years | Gold and What Moves it. | Scoop.it

Christy Filen:

 

"Statistics South Africa's preliminary report on mining production and sales for February 2012 has revealed numbers that are the lowest since 1961.


"Mike Schüssler, founder and economist at Economists.co.za, has provided a graph that shows the dip in the latest mining production numbers outstripping the lowest levels seen during the 2008 financial crisis and Black Monday in 1987...." click through for the rest.

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Twitter / Dayadog: @MonetaAdvisors @gold_trac ...

Dayadog Dayadog
MonetaAdvisors Roger Vertes
in reply to @MonetaAdvisors

@MonetaAdvisors @gold_tracker have you seen this Morgan Stanley article? http://t.co/eAZlmNZN
Apr 12 via web Favorite Retweet Reply

@MonetaAdvisors @gold_tracker have you seen this Morgan Stanley article?

 

A Must Read

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Trader Dan's Market Views: The "Dudley" Rally

Trader Dan's Market Views: The "Dudley" Rally | Gold and What Moves it. | Scoop.it

Trader Dan on the commodities spike today:

 

"New York Fed President William Dudley apparently supplied both the gasoline and the match to the "risk asset" fire this morning as his comments sparked a strong rally in both equities and in commodities. Interestingly enough, the markets were relatively flat after the gain in unemployment claims as traders began fearing that the pop in the payrolls numbers of late was about to become a thing of the past.

 

"Dudley reversed all of that when he stated that it was too soon to say the US economy was out of the woods. That was all that traders needed as their brains are already preprogrammed into interpreting all such comments as: 'HERE COMES THE NEXT ROUND OF QE'..." click over for the rest of the analsys.

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Gold Bound to Log $2,000 This Year: GFMS - International Business Times

Even as gold price continue to give up gain amid a stronger U.S.

 

"A push on towards $2,000 is definitely on the cards before the year is out, although a clear breach of the mark is arguably a more likely event for the first half of next year," global head of metals analytics Philip klapwikp in an interview.

 

"Europe's downbeat debt are likely to boost safe-haven appeal as long as the situation intensifies, as rising fears about the Spain -the region's fourth largest economy- will spur risk aversion and instead fuel investment for the metal on the long-run.

 

"The leading precious-metal consultancy however thinks that more efforts to contain the debt crisis in the euro region and fewer bets for a third round of quantitative easing in the U.S. could send gold price down further, probably below $1,550 in the next couple of months..."

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16 Tons of Gold Reserves Uncovered in Iran – Report - International Business Times

16 Tons of Gold Reserves Uncovered in Iran – Report - International Business Times | Gold and What Moves it. | Scoop.it
Iran has announced a jump in its gold reserves allocation to 320 tons after a discovery of three new gold mines showed 16 tonnes of proven net gold reserves, the Fars News Agency reported on Wednesday.

 

"The three new gold mines were discovered in Saqqez city in Kurdistan province of Western Iran, the news agency quoted Behrouz Borna, Deputy Head of Iran's Geology Organization for Exploration Affairs, as saying.

 

"The latest discovery amounts to $850 million.

Iran places 22nd in terms of gold and foreign currency reserves based from data released by the Central Intelligence Agency. Earlier this year, Tehran Chamber of Commerce, Industries and Mines said Iran's gold reserves have reached a new record at nearly $17.5 billion..."

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